Ecommpay, a leading international payment service provider and a UK and European direct bank acquirer, deepens its long-lasting relationship with PayPal ‘PayPal Express Checkout’ and ‘PayPal Pay Later'. Both features are immediately available to UK online businesses and provide new ways to offer customers greater flexibility and optionality.
Both features are immediately available to UK online businesses and provide new ways to offer customers greater flexibility and optionality.
Due to PayPal’s reputation as a trusted brand, surveys have shown that businesses can expect an increase in their sales and revenues by integrating it into their e-commerce sites.
According to Nielsen Online Buyer Insights, PayPal online businesses enjoy a 27% increase, with the total amount spent increasing by 15% and doubling the number of transactions per customer.
Over recent years, BNPL has gradually become a staple in the checkout experience, providing customers with more flexibility and purchasing power.
Recent research from Ecommpay revealed that a third of shoppers (33%) will likely remove items at checkout if a BNPL option is not offered when purchasing online.
‘PayPal Pay Later’
With more time, complexity and security for consumers, PayPal Pay Later offers merchants two types of flexible short-term financing schemes. Firstly, there is ‘Pay In 3’ and ‘Pay In 4’. With this interest-free payment scheme, customers can split their purchases into three or four payments, between £30-£2000, and without any late fees.
Secondly, PayPal offers a ‘Pay Monthly’ option for larger purchases. This option introduces even more flexible payment plans ranging from 6, 12 or 24 months and also comes with no payment and no late fees.
These two financing schemes enable consumers to manage their payments online or in an app. Purchases through this payment method are protected by the same robust security and Buyer Protection protocols available in PayPal’s other products.
‘PayPal Express Checkout’
In addition to payment flexibility, consumers also expect optionality. With the ‘PayPal Express Checkout’ feature, merchants can boost sales by allowing their customers to pay by credit card or directly from their personal PayPal accounts.
As a result, customers are saved from the hassle of inputting their billing and shipping data when purchasing an online product, making attracting PayPal customers much more effortless and expanding your customer base as a business.
Olga Karablina, Head of Payment Product Development, comments:
“We have been a trusted partner for Paypal for a long time and have developed a mutually beneficial relationship for years. When PayPal launched its PayPal Commerce Platform, we were one of the first PSPs to pilot it.
We are extending our partnership further with PayPal by offering short-term financing and optionality for our merchants. With 31% of consumers likely to shop elsewhere if BNPL is not provided when making purchases, ‘Pay In 3’ and ‘PayPal Express Checkout’ will enable merchants to integrate more flexibility and optionality into the checkout process, increasing sales and their customer base.
For Ecommpay and PayPal, that is what we strive to do for our merchants.”
Olga also states, "Like all forms of short-term financing schemes, they carry potential consumer risks.
As a responsible payments service provider, we strongly encourage merchants to be transparent with their customers by ensuring their Ethics and Disclosure Policy highlights the advantages and disadvantages of delayed payments.”
